Oil Prices Drop After US-Iran Nuclear Talks Progress

The oil price on the world market is falling clearly since the US President Donald Trump has said that the USA and Iran are approaching an agreement on the country's nuclear program, reports the news agency Bloomberg.

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Oil Prices Drop After US-Iran Nuclear Talks Progress
Photo: Eric Thayer

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An agreement could ease the sanctions against Iran, and more Iranian oil on the market presses the price.

On Thursday, the price falls by over three percent to under 64 dollars for a barrel of North Sea oil. The price has been even lower in the past few weeks, partly in the wake of the customs chaos Trump triggered at the beginning of April, which was then feared to reduce the global economy and the demand for oil.

Since the turn of the year, the oil price has fallen by approximately 13 percent, which, together with a stronger krona, has pressed the Swedish fuel prices to under 16 kronor per liter.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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